Blurb: There is no better guarantor of freedom and individual rights and efficiency than a system which allows the regulator to be checkmated when it indulges in malpractices.

While the expose of the Radia tapes is the best thing that has happened in India for governance – ever – the windfall raises some fundamental issues about government regulation and diktat: who is there to check on the regulator. What if she, or it, displays inconsistent or irrational behavior – who is there to say that this is not how it should be, this is not how it was meant to be.